Eaton (NYSE:ETN) Price Target Raised to $382.00 at The Goldman Sachs Group

Eaton (NYSE:ETN - Get Free Report) had its target price boosted by investment analysts at The Goldman Sachs Group from $345.00 to $382.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the industrial products company's stock. The Goldman Sachs Group's target price would suggest a potential upside of 6.03% from the stock's previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Barclays raised their target price on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. BNP Paribas assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Morgan Stanley reduced their target price on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $370.63.

Eaton Stock Performance

Shares of Eaton stock traded up $2.63 during trading on Tuesday, hitting $360.27. 992,601 shares of the company's stock traded hands, compared to its average volume of 2,664,927. Eaton has a 1 year low of $231.85 and a 1 year high of $379.99. The business has a 50-day simple moving average of $331.52 and a 200-day simple moving average of $313.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a market capitalization of $140.97 billion, a P/E ratio of 36.38, a PEG ratio of 2.71 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the company earned $2.40 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Eaton will post 12.02 EPS for the current year.

Insider Buying and Selling at Eaton

In related news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Eaton

Several institutional investors have recently modified their holdings of ETN. IMA Advisory Services Inc. acquired a new stake in shares of Eaton in the first quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in Eaton during the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new position in Eaton during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV boosted its holdings in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.